Leases (Tables)

6 Months Ended

Jun. 30, 2019

The following table presents additional information pertaining to the Company’s operating leases:



	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Supplemental Statements of Operations Information	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Operating lease costs	$	1,705		$	3,416
Short-term lease costs	10			20
Variable lease costs	114			256
Total lease costs	$	1,829		$	3,692

	Six Months Ended June 30, 2019
Supplemental Statements of Cash Flows Information	Six Months Ended June 30, 2019
Operating cash outflows from operating leases	$	3,504
ROU assets obtained in exchange for operating lease liabilities	$	44,354

Operating Lease Liabilities	As of June 30, 2019
Future minimum operating lease payments:
2019 (remaining six months)	$	3,449
2020	6,916
2021	6,942
2022	6,999
2023	5,612
Thereafter	30,806
Total future minimum operating lease payments	60,724
Less: imputed interest	(13,893		)
Operating lease liabilities	$	46,831

Supplemental Balance Sheets Information	As of June 30, 2019
Operating lease liabilities⁽¹⁾⁽²⁾	$	46,831
ROU assets⁽¹⁾⁽³⁾	$	41,803


⁽¹⁾	As of June 30, 2019, the weighted average remaining lease term was 11.2 years and the weighted average discount rate was 4.30%.


⁽²⁾	These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets.


⁽³⁾	These amounts are included in Other assets on the Company’s unaudited Condensed Consolidated Balance Sheets.

Schedule of Future Minimum Rental Payments for Operating Leases

Minimum annual rental commitments as of and in-place at December 31, 2018 for the Company's ground and office leases during the next five years and thereafter are as follows:



Year ending December 31,
2019	$	6,929
2020	6,948
2021	7,157
2022	7,233
2023	5,827
Thereafter	43,876
Total minimum annual rental commitments	$	77,970